Do Kwon, founder of Terraform Labs and the issuer of TerraUSD, will be extradited to the US, according to a Bloomberg report. Kwon and his business helped to crush crypto markets after his algo-based “stablecoin” TerraUSD ended up not so stable. Billions were vaporized in the… Read More
The Securities and Exchange Commission (SEC) reports that Terraform Labs PTE, Ltd. and founder Do Kwon will pay a $4.5 billion penalty as they have been found guilty of a “years-long fraud.” It was previously reported that the SEC was seeking a $5.3 billion settlement…. Read More
US regulatory authorities are requesting that Terraform Labs and its co-founder Do Kwon be fined $5.3 billion for allegedly defrauding investors. This update has been announced after the two parties had been found liable for a massive fraudulent scheme. As stated in court papers dated… Read More
Manhattan US District Court Judge Jed S. Rakoff has given a major blow to Terraform Labs and its founder Do Kwon. Recently, Judge Rakoff dismissed a mistrial bid that was reportedly related to disclosures regarding the Terraform’s alleged deception. The notable decision was announced during… Read More
Froda is launching a card-based embedded lending solution in Denmark in partnership with digital bank Lunar and Visa. According to a public statement, the launch follows a successful test period, as the company strives to make it faster and cheaper for SMEs to access growth… Read More
Do Kwon, the creator of TerraUSD – LUNA, has been sentenced to four months in the slammer in Montenegro, according to multiple reports. Kwon’s attempt to create an algorithmic stablecoin TerraUSD has been cited as a huge catalyst in the crypto collapse of 2022. The… Read More
Europe Now Movement, the political party that just won parliamentary elections in Montenegro, is expected to form a fragile government, according to a report in BalkanInsight. The problem is the multitude of parties, with Europe Now squeaking by with just 25.6% of the vote, followed… Read More
Do Kwon is expected to stand trial in Montenegro before facing charges in other interested jurisdictions. Kwon is the founder and CEO of Terraform Labs, the crypto company that created TerraUSD and LUNA. TerraUSD was an aspiring algorithmic stablecoin pegged to the US dollar. The… Read More
After trying to evade law enforcement for around six months, Terraform Labs CEO Do Kwon has now been taken into police custody in Montenegro. Kwon and Terraform Labs were responsible for TerraUSD, an aspiring algorithmic stablecoin, and sister crypto Luna, which collapsed last year… Read More
The Securities and Exchange Commission (SEC) is continuing its crypto crackdown filing charges againstTerraform Labs PTE Ltd and founder Do Hyeong Kwon. The firm is based in Singapore but the Commission has not been shy about pursuing crypto scofflaws anywhere in the world. Kwon was… Read More
Charles Guillemet, Ledger’s CTO, looks back at the most “critical” crypto events of 2022 and argues that “the failure of centralized entities has emphasized more than ever the importance of self-custody in ensuring inalienable ownership rights.” Ledger notes in a blog post that 2022 was… Read More
As was reported this week, Do Kwon – the creator of TerraUSD and LUNA, has been subjected to a warrant for his arrest in South Korea. TerraUSD sought to be an algorithmic stablecoin tied to the US dollar but lost its dollar peg generating an… Read More
Do Kwon, creator of the failed algorithmic stablecoin TerraUSD and LUNA, is the target of an arrest warrant in South Korea, according to a report. South Korean publication Chosun writes, that Kwon is being pursued by the Seoul Southern District Prosecutor’s Office’s Financial and Securities… Read More
Hot summer temperatures have done nothing for the current “crypto winter,” which has seen a $2 trillion market drop from highs last year. The downswing, including the spectacular failure of the Terra Luna ecosystem and a cascade of exchanges temporarily halting withdrawals, has livened crypto’s… Read More
The Singapore government has posted a response to questions emanating from Parliament pertaining to the collapse of TerraUSD – LUNA. TerraUSD was an aspiring algorithmic stablecoin that was tied to LUNA. TerraUSD sought to maintain a US dollar peg but failed in its mission, thus… Read More
Three Arrows Capital, Singapore/Dubai-based hedge fund that is invested in multiple blockchain firms, is fending off rumors of a possible liquidation event, according to a report by Reuters. In an opaque tweet, founder Zhu Su, said they are “in the process of communicating with relevant… Read More
The Securities and Exchange Commission (SEC) has posted a notice that the United States Court of Appeals for the Second Circuit has affirmed a district court order requiring compliance with investigative subpoenas served by the Commission on Terraform Labs Pte Ltd and Do Kwon – based… Read More
Bitpanda recently confirmed that it will support the Luna (LUNA) Airdrop for Terra Classic (LUNC) holders. This means that Bitpanda is supporting the new Terra 2.0 blockchain and have listed LUNA. For Bitpanda users who held tokens of the Terra project (now LUNC tokens), Bitpanda… Read More
Contagion is a scary term. Systemic risk is its friendlier sibling but both raise eyebrows. Today, the European Central Bank (ECB) is bringing attention to the possibility of crypto contagion as interest grows in digital assets and recent events highlight the ability for a rapid… Read More
Following the Luna de-peg and the collapse of the UST stablecoin last week, Terra co-founder Do Kwon has unveiled a proposal for what he calls “the path forward.” This included forking the Terra chain “into a new chain without the algorithmic stablecoin, with the old… Read More
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